RETROACTIVE REVIEW: ApeCoin Is Looking Back At Past AIPs To Make Sure Authors Are Working Toward Their $Ape-Funded Goals!

The Ape Foundation announced that it will be going back and checking in on previously passed Ape Improvement Proposals to ensure authors have completed, or are actively working toward, their $Ape-funded goals.

It’s a new, more fiscally responsible day at ApeCoin. On Saturday, the ApeCoin DAO took to the timeline to announce that it will be reviewing past AIPs to ensure projects are fulfilling their obligations and warned that those failing to live up to their proposals will be held accountable.

“The new Ape Foundation administration will be reviewing all past AIPs to determine which have been fully implemented,” ApeCoin wrote, “AIP authors who have received funds from the DAO but failed to deliver what is required by the AIP will be held accountable.”

 

 

Following the DAO’s tweet, former ApeCoin Metaverse Working Group Steward Dim.Eth took to the timeline to welcome the change.

“Glad to see that the Foundation will retroactively review passed AIPs,” he wrote. “It's a good first step to bring accountability to the grant recipient and I'm expecting more accountability also coming on the team side. It's a new dawn.”

 

As of tonight, the DAO has categorized previous AIPs into three different piles: Unimplemented, Pending, and Implemented.

Three AIPs were deemed Unimplemented, meaning no funds were sent out and no progress was made. This pile includes Guy Oseary’s ApeCoin management AIP from 2022.

55 AIPs have been labeled Pending, a category that appears to include recently passed proposals, AIPs the DAO has requested updates on, and projects that received funding but have yet to make any progress.

94 AIPs have been marked Implemented, a designation that seems to cover projects that are completed, mostly complete, or actively communicating with the DAO.

As we wait to hear from more authors and sort out who’s still building and who’s not, Yuga Labs Vice President of Blockchain, 0xQuit, put every silent grant recipient on notice.

“Everybody who was granted ape and has nothing to show for it should start formulating a plan to either scrape together the ape and return it, or retain council. If you thought you could take advantage of our community and come away unscathed, think again,” he tweeted.

 

This newfound focus on accountability at ApeCoin comes one week after the Ape Foundation hired longtime Yuga Labs Chief Legal Officer Cameron Kates, a.k.a.  CiabattaYuga, as its first-ever Chief Executive Officer.

 

The Bored Ape Gazette will continue to follow all things ApeCoin and keep you posted on the DAO’s push for more accountability and transparency from $Ape-funded builders. Stay tuned for updates!